Petrol price in Pakistan likely to see drop from March 16

ISLAMABAD: The federal government is gearing up to announce revised petrol and diesel prices for the second half of March 2024, with expectations of a notable reduction.
Reports suggest that the government is poised to decrease the price of petrol by Rs5, bringing it down to Rs274.61 per litre, while diesel may see a reduction of Rs4.81, settling at Rs283.12 per litre. These new prices are anticipated to come into effect from March 16, 2024.
The potential cut in petroleum prices follows a downward trajectory in the international market. Brent crude futures experienced a decrease of 0.4%, reaching $81.82 per barrel, signaling a favorable trend for consumers in Pakistan.
Currently, the per litre price of petrol stands at Rs279.62, with high-speed diesel priced at Rs287.33. If the reported reductions materialize, Pakistanis can expect relief at the pumps, with petrol costing Rs274.61 per litre and diesel priced at Rs283.12 per litre.
This anticipated adjustment in fuel prices reflects the government’s efforts to alleviate the financial burden on citizens amidst global market fluctuations. Stay tuned for the official announcement on March 15 night, as Pakistan awaits. – NNI